Wedbush analyst Daniel Ives said the recent turbulence in tech stocks reflects short-term investor anxiety rather than a shift in the long-term artificial intelligence-driven bull market. The analyst noted that despite concerns about an "AI bubble," Palantir Technologies Inc.’s (NASDAQ:PLTR) sharp selloff after stellar earnings, and uncertainty over Nvidia Corp's (NASDAQ:NVDA) China exposure, the sector’s underlying fundamentals remain strong.
He expects tech stocks to rise another 8%–10% by year-end as investors continue to position for the next phase of the AI revolution.
